Housing Market Predictions for the Rest of 2019

Some of the top real estate industry experts share their housing market predictions for the remainder of the year. Many home buyers and sellers are wondering how the economy, decline in interest rates as well as home price and wage appreciation may impact the real estate market.

Tuscany Cove Home Sold

Congratulations to a great couple teammate Mike Pepple has been working with who just closed on this beautiful Tuscany Cove home in Naples Florida! This 2 bedroom plus a den and 2 bathroom single family home has a beautiful lake view.

Tuscany Cove Home – 15274 Cortona Way Naples Florida 34120 – Closed Price $320,000

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August 26th, 2019 Posted by NaplesGolfGuy

Valencia Home Price Improved!

Valencia Home price improved! If you are looking for an affordable home with great schools and excellent amenities in Naples call to see this home today! A large single family home in a golf community in Naples with a wide-open floor plan, entertainer’s kitchen and a southeastern view of Valencia Country Club’s golf course, it’s perfect! Most importantly, the home is located within walking or biking distance to 3 of the best schools in Collier County (all A schools).

A gated golf community with a nice amenity package and the course has been recently renovated. A non-mandatory club allowing owners flexibility to play as often or little as they want. Great property on a great lot in an excellent community, call me for a tour, you’ll be glad you did!

Valencia Home Price Improved – 1452 Birdie Dr. Naples, FL 34120 – $324,900

More About The Valencia Home For Sale:

• List Price – $324,900
• 2,242 Square Ft.
• Built 2011
• View more photos…

Valencia Country Club:

Valencia is nice, affordable public golf and country club in Naples, Florida. It is one of the few golf courses in the area which does not include a mandatory membership fee. You can play as often or as little as your heart desires.  Known as a beginner-friendly golf course, there are 5 sets of tees for golfers at all skill levels. Learn more about Valencia Country Club…

More Naples Real Estate News

Naples July 2019 Market Watch

Naples Market Watch Alert: We typically consider the month of July hot when we talk about the weather, not when we talk about real estate. However, based on the Naples housing market activity, real estate sales were just as hot as the temperature! Overall closed sales increased 7.1 percent over July of last year, according to the latest Naples Area Board of Realtors report. There were a total of 829 closed sales in July of this year compared to 774 in July 2018. And despite a 14.8% reduction in overall inventory compared to last July, overall median closed prices have not increased.

Naples Market Watch July 2019 Highlights:

• Overall inventory decreased 14.8 percent compared to July of last year
• Total closed sales increased 7.1 percent, up to 829 versus July of 2018
• Single family closed sales increased to 435, which was a 14.8 percent increase
• Condo sales remained flat compared to the same month last year
• Number of Days on Market increased by 3 percent up to 96 days
• Median Sales Price fell slight to $326,200 which was a 0.1 percent decrease

In spight of a 14.8 percent decrease in overall inventory, there was virtually no impact on the median closed price for the month of July. Additionally, just over a quarter of the Naples Homes on the market saw a price reduction.

Closed Sales Market Watch:

The July report shows there was a significant increase in single family homes sold compared to last July. Sales increased by 14.5 percent. Condo sales remained flat during the month.

Further, if you look at the breakdown by price range for all Naples properties you will see there was increased activity in sales for properties priced below $500,000 this July compared to last July.

Most notable was the 11.1 percent increase in closed sales for homes priced between $300,000 and $500,000.  And, the number of closed properties in Naples below $300,000 rose by 4.9 percent compared to last year during the same time.

Also noteworthy is the significant decrease in closed sales of luxury properties priced between $1,000,000 and $2,000,000 where there was an 8.5 percent decrease in closed sales.

Additionally, for Naples Condos in the $1 million to $2 million price category, there was a 10 percent decrease in the median closed price during July.

And, closed sales of Ultra Luxury homes priced above $2,000,000 remained relatively flat compared to last year.  There was only 1 less transaction during July of 2019 over last year.

So if you are looking to buy a Luxury home or condo in Naples, it’s likely you will have more room for negotiating a good price. Sellers will need to start adjusting their list price if they haven’t done so already.

Days on Market:

Typically, the reason a home remains on the market too long is due to the property being overpriced. In July, it took an average of 96 days for a property to close. If your home has been on the market for a while and you have no showings or very few showings, you should talk to your realtor about your list price.

Also, the new July 2019 ShowingTime report, a monthly supplemental report which shows the number of times properties are shown, indicated that local REALTORS scheduled over 17,000 appointments to show Naples properties during July. On average, the report shows that a home for sale in Collier County is shown 17 times before it sells.

Broker analysts believe the less inventory people have available to view, the more properties they want to see. This is why they believe now is a good time for sellers to enter the market so they have the opportunity to capture buyers who are looking at homes now.

According to Mike Hughes, Vice President and General Manager of Downing Frye Realty, Inc., “The late summer and early fall are a good time for a seller to list a home because there is a lot of interest from meager buyers – 17 showings per listing in July compared to 13 in January – and values are not decreasing.” 

Days on Market by Price Range in Naples Florida:

The overall days on market increased to an average of 96 days. However, if you look at the data based on the various price ranges you can see Luxury homes (homes priced above $1 million) takes almost 20 days longer to go to contract. And, if you look at luxury properties priced above $2 million, the average days on market goes up to 148 days, which is almost 5 months.

Affordability can be a challenge in Collier County. So, it’s not surprising to see homes priced below $300,000 are closing quicker than homes priced above $300,000.

Naples Housing Inventory:

Finally, there were 935 new listings added to July’s inventory. However, the increased inventory did not keep up with the number of buyers entering the market.

At the end of July, there were 5,200 homes on the market compared to 6,100 in July 2018.

So supply is hovering around 6 months worth of Naples Homes for Sale. Typically, a healthy market is between 6-7 months worth of properties available for sale. Having said that, inventory varies by price range and location. An experienced real estate professional will help you navigate the various communities and locations to ensure you are maximizing your investment your a home buyer and if you are selling property, they will help you price your home in alignment with the market.

Highlights by Location:

Geographically, closed sales activity was the highest in the Naples Beach area (34102, 34103, 34108), which saw a 25 percent increase in overall closed sales and a 40 percent increase in single-family home closed sales compared to July 2018.

Interestingly, the median closed price for condominiums in the Naples Beach increased 27.1 percent to $632,500 from $497,000 in July 2018.

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A Recession Does Not Equal a Housing Crisis

Recently, there’s been a lot of news surrounding an impending recession and potential housing crisis. However, the same experts predicting an economic slowdown also believe it will not be caused by the housing market. If you’re thinking of buying or selling a home, there’s no need to panic- let’s get together to address your concerns and talk about what’s really happening.

More Information about Recessions, Housing Crisis and Recoveries:

Corelogic’s Housing Recession and Recoveries

Economists See U.S. Recession Risk Rising (Wall Street Journal)

Economic Policy Survey

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A Latte a Day Keeps Homeownership Away

What would you sacrifice to own your own home? Would you give up your daily Latte in exchange for a regular cup of coffee? Or maybe stay home for dinner one night instead of going out to a restaurant? While it doesn’t seem like much each day, over time the money you would save adds up.

Seniors Are on the Move in the Real Estate Market

Did you know August 21^st is National Senior Citizens Day? According to the United States Census, we honor seniors today because,

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Housing Supply Not Keeping Up with Population Increase

The population increase in the U.S. is not keeping up with the supply of housing. As a result, many buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up.

Great Private Golf Communities – Real Estate Trends

Looking for your dream home or vacation home in one of the Great private golf communities in Southwest Florida? If so, you have found the right source of information.  There are over 150 golf communities in the area, 90 percent of which have a private golf course within the community. With all of the various membership options, course designs, amenities and a wide area of home types available, it can be a challenge to pick the right one.

So, if you are searching for information on one of the top private golf course communities in Naples, Bonita Springs, Estero or Fort Myers, below you will find highlights for the latest real estate statistics for single-family golf homes and golf condos in multiple southwest Florida luxury golf communities.

Top Private Golf Communities – Single Family Home Trends

Audubon Country Club – 31 properties for sale, 19 properties closed over the past 12 months and average sales price $935,526

Bonita Bay – 18 properties for sale, 66 properties closed over the past 12 months and average sales price $1,040,873

Collier’s Reserve – 12 properties for sale, 11 properties closed over the past 13 months and average sales price $1,319,231

Grey Oaks – 39 properties for sale, 39 properties closed over the past 12 months and average sales price $2,237,301

Kensington – 7 properties for sale, 14 properties closed over the past 12 months and average sales price $992,893

Lely Resort – 60 properties for sale, 96 properties closed over the past 12 months and average sales price $621,636

Mediterra – 49 properties for sale, 42 properties closed over the past 12 months and average sales price $2,196,463

Olde Cypress – 22 properties for sale, 33 properties closed over the past 12 months and average sales price $816,618

Palmira – 22 properties for sale, 23 properties closed over the past 12 months and average sales price $610,387

Pelican Bay – 26 properties for sale, 42 properties closed over the past 12 months and average sales price $1,825,768

Pelican Bay (Bay Colony) –  7 properties for sale, 3 properties closed over the past 12 months and average sales price $2,300,012

Pelican Landing – 22 properties for sale, 59 properties closed over the past 12 months and average sales price $804,514

Pelican Landing (The Colony) – 9 properties for sale, 5 properties closed over the past 12 months and average sales price $1,734,000

Pelican Marsh – 29 properties for sale, 34 properties closed over the past 12 months and average sales price $938,596

Pelican Sound –  0 properties for sale, 8 properties closed over the past 12 months and average sales price $622,188

Quail Creek – 12 properties for sale, 24 properties closed over the past 12 months and average sales price $1,172,644

Quail West – 45 properties for sale, 53 properties closed over the past 12 months and average sales price $1,907,140

Shadow Wood – 32 properties for sale, 65 properties closed over the past 12 months and average sales price $832,223

Talis Park – 18 properties for sale, 13 properties closed over the past 12 months and average sales price $2,078,283

Tiburon – 1 properties for sale, 4 properties closed over the past 12 months and average sales price $1,231,000

Vineyards – 29 properties for sale, 67 properties closed over the past 12 months and average sales price $669,395

West Bay Club – 16 properties for sale, 20 properties closed over the past 12 months and average sales price $1,207,050

Top Private Golf Communities – Condo Trends

Audubon Country Club – 1 property for sale, 5 properties closed over the past 12 months and average sales price $651,900

Bonita Bay – 57 properties for sale, 119 properties closed over the past 12 months and average sales price $638,523

Grey Oaks – 8 properties for sale, 16 properties closed over the past 12 months and average sales price $1,038,906

Kensington – 8 properties for sale, 24 properties closed over the past 12 months and average sales price $442,204

Lely Resort – 103 properties for sale, 171 properties closed over the past 12 months and average sales price $313,856

Mediterra – 14 properties for sale, 14 properties closed over the past 12 months and average sales price $565,000

Olde Cypress – 4 properties for sale, 2 properties closed over the past 12 months and average sales price $423,750

Palmira – 13 properties for sale, 17 properties closed over the past 12 months and average sales price $305,500

Pelican Bay – 136 properties for sale, 230 properties closed over the past 12 months and average sales price $1,014,160

Pelican Landing – 21 properties for sale, 81 properties closed over the past 12 months and average sales price $320,180

Pelican Landing (The Colony) – 51 properties for sale, 55 properties closed over the past 12 months and average sales price $847,873

Pelican Marsh – 43 properties for sale, 78 properties closed over the past 12 months and average sales price $387,019

Pelican Sound – 3 properties for sale, 58 properties closed over the past 12 months and average sales price $301,622

Shadow Wood – 16 properties for sale, 28 properties closed over the past 12 months and average sales price $338,461

Talis Park – 25 properties for sale, 16 properties closed over the past 12 months and average sales price $880,706

Tiburon – 13 properties for sale, 33 properties closed over the past 12 months and average sales price $904,008

Vineyards – 61 properties for sale, 122 properties closed the over past 12 months and average sales price $364,513

West Bay Club – 7 properties for sale, 19 properties closed over the past 12 months and average sales price $603,579

Overall, the latest real estate trends for the top private golf communities in Naples, Bonita Springs, Estero or Fort Myers show the market for luxury properties has several golf communities which have a healthy supply of inventory or they have an oversupply of inventory and therefore would be considered a great buying opportunity. This is also the case with single-family homes in the top golf communities in Southwest Florida. Whether you are considering a single-family home or a condo in a luxury golf community, inventory levels vary by community. A healthy level of inventory is between 6-7 months of supply of properties available. Since each community varies we recommend you use a real estate agent familiar with golf communities to navigate your way through your options.

Here are a couple of examples for why it is important to have a good understanding of the community and whether the inventory levels are healthy, or have high or low supply. Bonita Bay only has 18 single-family homes on the market and only 3.27 months supply of inventory which makes single-family homes in this community a seller’s market. On the flip side, if you were looking for a condo in Mediterra, there’s over a 12 month supply of condos available making it a buyer’s market.

Also, Both Quail West and Mediterra continue to be Luxury Golf Communities with more than 10 months supply of inventory. So, if your a luxury home buyer, now would be a great time to look at property in either community since such a large number of months worth of supply means there should be room for negotiating a great price. Contact us today to help you identify the best Southwest Florida golf community for you and your family and ensure the best return on your investment. At the same time, we will make your transaction as effortless as possible.

If you do not see a snapshot of the southwest Florida luxury private golf club community you are interested in, contact us for complete market analysis.

More Articles About Southwest Florida Real Estate Trends

Naples Golf Guy Monthly Real Estate Report

Bonita Springs and Estero Real Estate News

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